Wednesday, October 21, 2009

October Mid-Month Housing Statistics

In the first two weeks of October, Greater Toronto
REALTORS® reported 3,631 sales – up 34 per cent compared to the first two weeks of
October 2008. The average price for these transactions was up 17 per cent year-overyear to $414,479.

"While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB President Tom Lebour. Year-to-date sales, at 69,964 are up six per cent compared to 2008. Average price, at $389,687, is up by two per cent.

"Tight market conditions throughout the GTA will continue to exert upward pressure on home prices in the fourth quarter," explained Jason Mercer, TREB's Senior Manager of Market Analysis. “Expect more listings in 2010 as home owners react to the price gains experienced in the second half of 2009.”
Summary Of October Sales And Average Price
October
2009 2008
Sales Average Sales Average
Price Price
City of Toronto ("416") 1,489 $455,001 1,140 $375,804
Rest of GTA ("905") 2,142 $386,311 1,560 $337,671
GTA 3,631 $414,479 2,700 $353,772

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict
Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.


Source: Toronto Real Estate Board

Saturday, October 03, 2009

Almost 600,000 Square Feet Leased In August

TREB Members reported 571,751 square feet of
leased space, down 31% from the 830,317 square feet recorded in August of 2008, Commercial Council Chair Garry Lander announced today.

“The amount of leased space continues to be lower than last year’s levels as companies are waiting to re-negotiate current leases or negotiate agreements on new space until they are more confident as to when economic recovery will take hold,” Mr. Lander noted. “The outlook on the economy will determine availability and pricing.”

Rental rates for IC&I properties were mixed compared to year-ago levels. Industrial space (all size categories) leased for $5.20 sfn, down 9% from the $5.70 recorded in August of 2008. Commercial space traded for $19.75 sfn, up 4% from the $18.98 figure seen during the same month last year. Finally, office space traded for $12.34, up 3% from the $11.98 sfn figure recorded during August, 2008.

Sales Market Highlights

TREB Members recorded 50 sales of IC&I properties in June, including 24 industrial buildings of all size categories which averaged $91.66 per square foot. This compare to the $66.97 per square foot obtained from non-MLS sources.

For a complete copy of the Commercial Realty Watch visit www.TREBCommercial.com

Members of the Toronto Real Estate Board’s Commercial Division adhere to a strict Code of Ethics and Standards of Business Practice, only those who have met the standards established by their peers are eligible to become Members.

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict
Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.


Source: Toronto Real Estate Board